Car dealers now have a fresh way of selling their stock direct to consumers thanks to UK Car Exchange, a new website launched this month.
The car exchange works as an auction portal, bringing buyers and sellers together in one place.
Dealers can shift their stock without having to paying hefty commissions, and potential customers can take advantage of the surplus stock that would usually be bound for the auction floor.
Cars can be uploaded to the auction portal free of charge, and offered for immediate sale over a 14-day auction period.
The website allows price drops to occur automatically, and dealers have the option of whether to show their cars to trade buyers or consumers or both.
They can list an unlimited number of cars on the site, for free – a fee is only payable when a car sells. Dealers also have the ability to set a reserve price.
UK Car Exchange's management team, led by managing director Tony Hinkley, has over 75 years' experience in the motor trade.
"We are really excited to bring this innovative new concept to the UK motor trade," says Hinkley. "Car dealers can now access a new national market, at no cost until a car is successfully sold, in addition to continuing to market their stock through traditional methods. This is particularly good news for those without forecourts and those that struggle to sell on cars which are approaching over-age."